Bitcoin’s price has also moved away from the market recovery. Its value has been down $6700 after a 2.86% pull down. This trend may confine it to $6500 soon.
Bitcoin Price Analysis
BTC price has been over $7000 mark for a considerable period of time and showing signs of struggle since April 10. Throughout this period, investors have been witnessing considerable price swings as well.
Bitcoin was at $6886.97 at the starting of the day and over the initial 17 hours; it managed an upsurge of 4.55% and got to $7200. It was followed by an 8.93% price correction that cost $643 and pulled the price of BTC down to $6555. Further, the currency reflected moderate recovery, and between 00:31 & 03:24 UTC, Bitcoin value got beefed up by 2.44% and touched $6715. The current price at $6689.64 is below both its 20 days MA and 50 days MA. Its RSI is still below 45 points and is also tilted towards the oversold region. The next halting point for BTC is likely to come at the support point of $6500.